Angola: Lobito Refinery to provide jobs and reduce imports

18 February 2009

Lobito, Angola, 18 Feb – Angola’s Oil Minister, José Maria Botelho de Vasconcelos, has said that the Lobito refinery will provide new jobs and make it possible to reduce current levels of oil derivative imports.

Botelho de Vasconcelos, who was speaking Thursday, in the city of Lobito, at a meeting with the project’s directors, noted that the facility was one of the strategies for the re-launch of the country’s economy over the next few years.

In her turn, the chair for the refinery project, Anabela Fonseca, who presented the project in detail, said that the facility was likely to cost US$8 billion.

According to information from the project’s directors, the refinery, which is in its implementation phase, will employ at least 8,000 people, of which over 90 percent will be Angolans.

Information provided showed that the refinery would initially transform 150,000 barrels of crude oil per day of the 200,000 that the industry would produce until its consolidation phase.

Fonseca said that at the moment the country imported 70 percent of the fuel it consumed, which could be brought to an end with the conclusion of the refinery.

The refinery is being built 10 kilometres to the north of the city of Lobito, in an area 7 kilometres long and 5 kilometres wide. Work began in January, with the removal of land mines and building of a perimeter fence, and is expected to take 40 months. (macauhub)